Vitalik Buterin, the youngest crypto-billionaire on the planet, announced that he has destroyed $7 billion of the Shiba Inu virtual currency (SHIB).

The young man transferred the amount, about 40% from SHIB reserves, offered to the Russian by the creators themselves, to a "dead" address, taking the coins out of circulation.

The 27-year-old Russian also announced that he plans to donate what's left of his gift to charities that use cryptocurrencies to fund their projects.

The young billionaire left a message for future cryptocurrency creators, "Don't give me coins from your projects without my consent! I don't want to have that kind of power."